Keeping It Rich on Madison Avenue: Joseph Sitt, a major retail landlord in trendy areas like SoHo and the Meatpacking District in New York, has purchased the block-long retail space in the former Helmsley Carlton House on Madison Avenue for $277 million—among the highest total prices ever paid for a retail property on the street.

Developers Hop on the Crossrail: Throughout the London region, construction crews are burrowing tunnels, laying track and beginning to build new stations as part of the largest addition to the city’s public transportation system since World War II.

Banks Near Foreclosure Settlement: Banks are hashing out a $10 billion settlement with federal regulators to halt a lengthy process of reviewing thousands of foreclosure cases for errors, after both sides concluded it was too expensive and not delivering enough assistance, according to people familiar with the discussions.

REITs Gained in 2012 on Economy, Housing: Bolstered by a strengthening economy and improving housing market, real-estate stocks capped off 2012 with robust returns that outpaced the broader stock market.

Towers of Speculation: Despite sluggish demand for U.S. office space, a handful of developers are moving forward with plans to build new office towers even before they have lined up tenants—reviving the risky game of speculative development.

Plots and Ploys: A Hipper Marriott?: Marriott International Inc. is planning a boutique hotel in the tourist-filled Manhattan destination as part of a new 36-story retail and hotel development on 47th Street and Seventh Avenue.

For London’s Office Towers, It’s About Location: Five months after the Shard skyscraper in London celebrated its near-completion with a laser show and party attended by Prince Andrew, it still hasn’t completed a lease for any of its 590,000 square feet of office space.

Housing on Tap for Wharf: Canary Wharf Group, the developer of more than 16 million square feet of office space on those former East London docklands, plans to develop Wood Wharf, a 20-acre parcel to Canary Wharf’s immediate east that will include significant amounts of high-end residential space.

Europe House of the Day: Dating back to the late 16th century, this six-bedroom home in Northhampshire, England, offers a slice of country life with almost an acre of land and a three-bedroom cottage.